What Insurance is Cheapest for Veterans in Anchorage?

The vehicle you are buying coverage for is one of the biggest factors when comparison shopping for the cheapest insurance for veterans. Vehicles with lower acceleration and performance, advanced safety features, or a low likelihood of liability claims will cost significantly less to insure than higher performance models.

The list below features car insurance prices for a number of the cheapest vehicles to insure.

Cheapest Vehicles to Insure in Anchorage, AK
Make, Model, and Trim Level Estimated Cost for Full Coverage
Chevrolet Silverado LT Extended Cab 4WD $1,714
Chevrolet Impala LT $1,723
Chevrolet Malibu LS $1,714
Ford Explorer Limited AWD $1,747
Hyundai Elantra Blue 4-Dr Sedan $1,771
Honda CR-V LX 4WD $1,777
Honda Accord LX-P 4-Dr Sedan $1,786
Ford Escape Limited 2WD $1,821
Toyota Prius $1,837
Hyundai Sonata GLS 4-Dr Sedan $1,840
GMC Sierra 3500HD SLE Extended Cab 2WD $1,870
Jeep Wrangler Sport Islander Package 4WD 2-Dr $1,946
Ford Fusion Sport AWD 4-Dr Sedan $1,960
Kia Optima EX $1,963
Dodge Grand Caravan Crew $2,004
Toyota Tacoma Double Cab TRD Off-Road Package 4WD $2,014
Ford Edge Limited 2WD $2,058
Nissan Altima 2.5 S 4-Dr Sedan $2,072
Honda Odyssey EX-L W/Navigation $2,079
Volkswagen Jetta 2.0T Station Wagon $2,088
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Data based on single female driver age 50, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Alaska minimum liability limits. Discounts applied include claim-free, homeowner, multi-policy, safe-driver, and multi-vehicle. Premium costs do not factor in specific location which can lower or raise insurance rates considerably.

Looking at the data, you can presume that cars like the Chevrolet Silverado, Chevrolet Impala, Chevrolet Malibu, and Ford Explorer are likely to be the cheapest vehicles to insure for veterans.

For veterans, one of the big factors that help determine the price you pay for insurance is your address. Larger areas likely pay more, whereas areas with lower crime rates and fewer weather claims receive better rates.

The next table sorts the highest-priced areas in Alaska for veterans to purchase auto insurance in. Anchorage is listed at #2 costing $1,295 for the average insurance policy, which is approximately $108 each month.

How much does auto insurance cost in Anchorage?
Rank City Annual Rate
1 Palmer $1,304
2 Anchorage $1,295
3 Meadow Lakes $1,291
4 Wasilla $1,278
5 College $1,270
6 Nikiski $1,238
7 Fairbanks $1,234
8 Kenai $1,226
9 Homer $1,226
10 Sterling $1,190
11 Kodiak $1,167
12 Ketchikan $1,055
13 Juneau $999
14 Sitka $967
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Rate quotes are estimated as specific Anchorage garaging address can increase or decrease prices greatly.

Establishing which companies offer the cheapest insurance rates for veterans takes a bit more effort in order to find coverage that fits your budget. Each auto insurer has their own formula for determining rates, so we’ll go over the most budget-friendly insurance companies in Anchorage, AK.

It’s important to understand that Anchorage, AK insurance rates are based on many factors that can increase the cost of a policy. Getting older, buying a different vehicle, or having an accident may cause policy rate changes resulting in some rates now being cheaper than others.

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Cheapest auto insurance in Alaska ranked by cost per year
Rank Company Cost Per Year
1 Umialik $892
2 USAA $929
3 State Farm $1,005
4 Progressive $1,247
5 GEICO $1,886
6 Allstate $2,303
7 Safeco $2,501
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Umialik generally has some of the cheapest car insurance rates in Anchorage at around $892 each year. This is $651 less than the average rate paid by Alaska drivers of $1,543. USAA, State Farm, Progressive, and GEICO also rank well as some of the best Anchorage, AK insurance companies.

In the above rates, if you have coverage with State Farm and switched to Umialik, you could see an annual savings of in the vicinity of $113. Insureds with Progressive may save as much as $355 a year, and GEICO policyholders might cut rates by $994 a year.

These premiums are averaged across all types of insureds and vehicles and do not factor in an exact zip code location for veterans. So the insurer that fits you best may not even be in the list above. That emphasizes why you need to quote rates from many companies using your own driver data and vehicle information.

Selecting the highest-rated auto insurance provider can be rather challenging considering how many companies sell insurance in Anchorage. The ranking data in the next section may help you analyze which insurers you want to consider when comparing insurance rates for veterans.

These ratings are only made up of companies with a nationwide focus, so smaller regional companies are not taken into consideration for this list. To check rates from these top-rated insurers and more, just click here.

Top Insurance Companies for Veterans in Anchorage, AK
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
USAA 98 100 100 94% A++ 98.6
American Family 98 89 100 86% A 95.4
State Farm 88 93 96 90% A++ 92.4
The Hartford 94 92 90 89% A+ 91.7
AAA Insurance 88 89 95 91% A 91.2
GEICO 84 93 93 89% A++ 90.3
The General 89 91 89 88% A- 90
Progressive 84 91 93 87% A+ 89.5
Allstate 85 90 92 88% A+ 89.3
Liberty Mutual 84 87 93 88% A 88.5
21st Century 85 86 87 88% A 86.7
Esurance 85 80 95 87% A+ 85.9
Safeco 85 85 85 86% A 85.8
Farmers Insurance 78 87 88 79% A 84.3
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Data Source: Insure.com Best Car Insurance Companies

How to get discounts on Anchorage insurance rates

Save on insurance for veterans in AnchorageInsurers that provide coverage for veterans may also provide premium discounts that can reduce rates by as much as 25% or more if you are eligible for them. A few popular companies and a selection of discounts are included below.

The illustration below visualizes the comparison of insurance costs with and without discounts applied to the policy rates. The premiums assume a female driver, no violations or accidents, Alaska state minimum liability limits, comp and collision included, and $100 deductibles. The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with passive restraint, defensive driving course, multiple vehicle, anti-theft, accident-free, and multiple policy discounts applied. With discounts applied, theamount saved on insurance for veterans is 28% or $409.

Last year’s bargain might be this year’s rip off

Alaska insurance rates are calculated based on many things that will increase or decrease the cost of a policy. Simply getting older, marrying your spouse, or having a fender bender can produce rate changes that can make some companies cheaper than others.

And not only may your rating factors change, but insurance companies file new rates at least once a year in order to protect their financial rating. Heavy losses may result in higher rates, while a better claims history may produce more affordable Anchorage car insurance rates.

For example, the data below shows the company with the cheapest car insurance in Anchorage, AK for a 35-year-old female driver with a clean driving record, no accidents, and a good credit history. If we estimate prices based on her current risk profile, Umialik offers the cheapest car insurance rates in Anchorage at $1,195 a year. This is $348 less than the average premium paid by Alaska drivers of $1,543. USAA, State Farm, Progressive, and GEICO are also on the list of the top five cheapest Anchorage, AK auto insurance companies.

Now let’s give the driver from the above example a couple of claims, a lower credit rating, and a blemish on her driving record. Since each company uses their own method for setting rates, comparing rates most likely will result in a significantly different list of companies as shown below.

State Farm now has the best auto insurance rate in Anchorage with USAA, Umialik, Progressive, and Safeco now rounding out the top five. This example demonstrates why consumers need to compare lots of rates to find the best insurance rates for veterans. Rates can be determined by many things and can change without notice, so the best company the last time you shopped your coverage around may now be costing you a lot of money.